By now many of you have heard and read about Prince’s tragic death. To many of us he defined our youth and his albums were the soundtrack to our lives. What has compounded his passing was the fact that he was not prepared. Like many Americans(over 50%), he died without a will and without making plans for his family.
Prince was famously known for guarding his privacy. This was very important to him but now that he is gone, his life is being needlessly dragged out in the public eye and the courts. “Prince’s relatives, employees and friends, even his ex-wives, apparently knew less about the 57-year-old star’s habits than they thought. And because Prince failed to leave a will, the probate proceeding is even more complicated — and non-transparent — than usual.” There is much talk about the worth of his musical legacy which has surged in value since his death. But who are his heirs? Where are the “secret tapes” located?
In my experience as an attorney for over 20 years I have seen families ripped apart by the smallest things that a will does not usually address. For example; baseball card collections, clothes, pots and pans! Fortunately, these issues can be easily addressed now. Being prepared now will greatly reduce the stress and headache for your family later.
We all wanted to be Prince at one time, but don’t be like him now. Life Happens Fast. Be Prepared.